2006 Alabama Code - Section 19-3-121 — Interest-bearing warrants.

A trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, with the exercise of reasonable business prudence, in addition to any other investments now permitted by law, invest funds in interest-bearing warrants of any county board of education or city board of education in the State of Alabama, which warrants are secured by a pledge of a special county ad valorem tax for schools or a special district ad valorem tax for schools.

(Acts 1939, Ex. Sess., No. 16, p. 17; Code 1940, T. 58, §48; Acts 1949, No. 133, p. 163.)